A company run by billionaire Asif Aziz is seeking permission to open a luxury hotel on the site where the Football League was founded in 1888.
A 187-bedroom Zedwell hotel has been earmarked for the upper floors of the Royal Buildings on the corner of Market Street and Mosely Street in Manchester city centre.
London real estate firm Criterion Capital is behind the scheme after the company snapped up the building earlier this year.
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The plans have been designed by Manchester-based Buttress Architects which helped restore Mackie Mayor with Muse Developments in 2015.
If the proposals are approved by Manchester City Council, the building's upper four floors would be converted while the ground floor, which is occupied by Costa Coffee and Burger King, would be unaffected.
The building is currently empty apart from a language school that occupies two floors and is expected to move out in June next year.
The Royal Buildings sits on the site of the original Royal Hotel which was knocked down to make way for the current building in 1909.
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The old hotel was famous as the site where the Football League was founded in 1888.
On what the planned hotel would offer the applicant, in a document submitted to the council, said: "A complex synergy of elements come together to create the simplicity of the Zedwell Hotels concept: to promote sleep, positive health, and holistic well being.
"Each Zedwell Hotel is purposefully located within key central locations.
"They share an alchemy of features that provide a distinctive Zedwell experience, yet individually they focus on specific elements of spirituality.
"Zedwell Hotels use a nature-inspired décor with calming colours, natural or recycled materials, and no TVs in cocoon-like rooms to promote deep rest.
"Cocoons feature Hypnosbeds, Egyptian cotton sheets, circadian lighting, and rain showers.
"Rooms range from private cocoons to Zen family rooms with bunks for groups.
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"Self-check-in desks and vending machines are in the lobby.
"Each hotel is located in a central area and offers a unique experience focused on wellbeing and spirituality.
"The standard room type within the hotel will be a high-quality design targeting short term stays and people travelling through Manchester, availing of the excellent transport links of Piccadilly Gardens and Piccadilly Station."
The hotel is expected to create 30 full-time equivalent jobs.
A letter submitted to the council by Jay Patel of Savills added: "The proposed hotel will contribute towards the quality of the city centre hotel offer, in accordance with Core Strategy CC4.
"Zedwell is confirmed as the operator of the proposed hotel, and is fully committed to this site, ensuring a viable and deliverable scheme.
"In keeping with Zedwell’s brand positioning, they propose to create a high quality and affordable hotel at Royal Buildings, which will make a noteworthy addition to the Manchester accommodation offer.
"The benefits associated with hotel significantly outweigh the loss of the existing employment space within the building.
"The proposed development will contribute to the economic, social and environmental improvement ofthe city.
"The proposals accord with the relevant policies of the Core Strategy, the City Centre Strategic Plan for Manchester city.
"In terms of national planning policy, the scheme is consistent with the objectives outlined in the NPPF, in particular the need to provide sustainable development in the right locations."